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324 Obispo Ave Long Beach, CA 90814

$2,365,000 Sold Price as of 07/03/2019

17 Beds
9 Baths
6,730 Sq.Ft.

Sold

$2,365,000 Sold Price as of 07/03/2019 Refinance Your Mortgage

Map preview of 324 Obispo Ave, Long Beach, CA 90814

Property Overview: 324 Obispo Ave Long Beach, CA has 17 bedrooms, 9 bathrooms, 6,730 living square feet and 6,751 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great Value Add Opportunity in A+ Belmont Heights Location! (7), large 2-bedroom/1-bath units, (1) 3-bedroom/1.5-bath unit, and (4) single car garages. Long term owner of 30+ years. Units are original and many of the tenants are very long term. Substantial upside in the rents.

Listed by Spencer Pabst | BRE #01849377 | Pabst, Kinney & Associates

Last checked: 8 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 35

Home details

Lot Sq. Ft: 6,751
HOA Dues: $0/mo
Year built: 1964
Garage: 4 Car
Property Type:: Apartment

Status: Sold
MLS#: PW19091994
City: Long Beach
County: Los Angeles
Time on Site: 1395 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1
# of Electric Meters: 9
# of Gas Meters: 9
# of Water Meters: 1

Unit Breakdown 1

# of Units: 7
# of Beds: 2
# of Baths: 1
Garage Spaces: 4
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $8,885
Total Rent: $8,885
Pro Forma/Market Rent: $15,300

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 2
Garage Spaces: 0
Garaged Attached? No
Furnishing: Unfurnished
Actual Rent: $1,210
Total Rent: $10,095
Pro Forma/Market Rent: $17,900

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: --
Gross Scheduled Income: $122,940
Net Operating Income: $122,940
Gross Operating Income: --
Laundry Income: $150

Annual Expense Breakdown

Total Operating Expense: $0
Electric: $0
Gas/Fuel: $0
New Taxes: $0
Trash: $0
Insurance: $0
Professional Management: $0
Water/Sewer: $0

Property Details for 324 Obispo Ave

Interior Features

Laundry Information

Has Laundry
Common Area

Exterior Features

No Pool
Pool Features: None

Lot Details / Garage and Parking

Parking/Garage Information

# of Garage Spaces: 4
# of Parking Spaces: 4

Lot Information

Lot Features: Lot 6500-9999
Lot Size Source: Assessor

Property Information

Common Walls: 2+ Common Walls
Total # of Units: 8
Parcel Number: 7257020014
Year Built Source: Assessor
Property is Attached

Homeowners Association, Utilities, Taxes / Assessments

Utilities Information

Sewer: Public Sewer
Water Source: Public

Location / Neighborhood

Location Information

Subdivision Name: Belmont Heights (BH)
Directions: Redondo Ave. to 3rd Street, Right on Obispo Ave.

Neighborhood Information

Community Features: Sidewalks

View more facts & features

Local Long Beach Agent

Sale History for 324 Obispo Ave

Last leased for $2,595 on April 24th, 2020

April, 2020
Apr 25, 2020

Date

Leased

CRMLS: PW20050683

$2,595

Price
Mar 7, 2020

Date

Active

CRMLS: PW20050683

$2,995

Price
Listing provided courtesy of CRMLS

Newly renovated 3 bedroom/ 1.5 bath townhouse style apartment located in Bluff Heights. Unit comes with its own spacious, private backyard and a 1-car garage. Renovations include: new kitchen cabinetry, quartz counters, stainless steel appliances (excludes refrigerator), Acacia hardwood flooring, 2 new bathrooms with marble tile, ceiling fans throughout, new lighting, new windows and window coverings, new solid core doors for better privacy, carpet in upstairs bedrooms, lots of closet space. Be the first to live in this wonderfully appointed apartment. $600 move in credit with approved credit!

Continue Reading
July, 2019
Jul 4, 2019

Date

Sold

CRMLS: PW19091994

$2,365,000

Price
Jul 2, 2019

Date

Pending

CRMLS: PW19091994

$2,495,000

Price
May 29, 2019

Date

Active Under Contract

CRMLS: PW19091994

$2,495,000

Price
May 15, 2019

Date

Active

CRMLS: PW19091994

$2,495,000

Price
Apr 23, 2019

Date

Active Under Contract

CRMLS: PW19091994

$2,495,000

Price
Apr 23, 2019

Date

Active

CRMLS: PW19091994

$2,495,000

Price
July, 2019
Jul 3, 2019

Date

Sold (Public Records)

Public Records

$2,365,000

Price
July, 2019
Jul 3, 2019

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 324 Obispo Ave

Assessed Value (2020): $2,365,840

Year	Land Value	Improved Value	Assessed Value
2020	$1,000,000	$1,365,840	$2,365,840

Home Value Compared to the Market

This property vs the competition

324 Obispo Ave sold on July 3, 2019 for 211.88% higher than the current median sold price for the city of Long Beach which is $800,000. The median sold price per/sqft for Long Beach is $632 and this home is sold at $370.73 per/sqft which puts the price per square foot 41.34% lower than the current median sale per square foot for the city of Long Beach.

About 324 Obispo Ave

Detailed summary of property

324 Obispo Ave is a apartment that recently sold in Long Beach, CA 90814. This apartment offered 17 bedrooms, 9 bathrooms, roughly 6,730 living square feet, and sits on an approximately 6,751 square foot lot. 324 Obispo Ave was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $2,365,000. Home in Long Beach are selling for a median price of $800,000 and a median price per square foot of $632. Based on Ardent Real Estate Group's Long Beach Market Data, this home is sold 211.88% higher than the current median priced home. Local homes that are currently for sale include 219 Prospect Ave, 219 Prospect Ave and 116 Bennett Ave. While the average home in Long Beach, CA is selling in 51 days, 324 Obispo Ave has a days on market of 35 days. There are currently 643 homes for sale in the Long Beach real estate market and 358 of them are single family homes while 270 of them are condos and 15 are townhomes. For more information on this home for sale at 324 Obispo Ave Long Beach, CA 90814 contact Ardent Real Estate Group and we will put you in touch with one of our Long Beach agents.

Public Facts for 324 Obispo Ave

Public county record property details

Beds: 17
Baths: 9
Year built: 1964
Sq. Ft.: 6,730
Lot Size: 6,750
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 12
APN: 7257-020-014

The source for these homes facts are from public records.

90814 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$773,676

Median List Price/Sq.Ft.

$626

Median Sold Price

$845,566

Median Sold Price/Sq.Ft.

$582

Total Inventory

Median Sale to List Price %

100%

Avg Days on Market

Loan Type

Conventional (28.57%), FHA (0%), VA (0%), Cash (28.57%), Other (42.86%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.